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PLEASE HELP ASAP THANKS IN ADVANCE!!!!******* (Related to Checkpoint 6.2) (Present value of annuity payments) The state lottery's million-dollar payout provides for $1.1 million to

image text in transcribedPLEASE HELP ASAP THANKS IN ADVANCE!!!!*******

(Related to Checkpoint 6.2) (Present value of annuity payments) The state lottery's million-dollar payout provides for $1.1 million to be paid in 20 installments of $55,000 per payment. The first $55,000 payment is made immediately, and the 19 remaining $55,000 payments occur at the end of each of the next 19 years. If 6 percent is the discount rate, what is the present value of this stream of cash a. If 6 percent is the discount rate, the present value of the annuity due is $ 668,696.41. (Round to the nearest cent.) b. If 12 percent is the discount rate, the present value of the annuity due is $

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